Texas Pacific Stock Is Worst S&P 500 Performer Wednesday -- Barrons.com

Dow Jones12-05

By Emily Dattilo

Shares of Texas Pacific Land Corp. were trading sharply lower on Wednesday, leaving them on track for their worst decline in years.

Texas Pacific stock fell 15% to $1,339.30 in afternoon trading, on pace for its largest percentage decrease since 2020, according to Dow Jones Market Data. It was also the worst performer in the S&P 500.

The company, which owns significant acreage in the energy-rich Permian Basin, joined the S&P 500 index before the start of trading on Nov. 26, replacing Marathon Oil.

Marathon was dropped because it was purchased by ConocoPhillips in a deal that closed last month.

Since the close of trading Nov. 25, Texas shares have fallen 17%.

Write to Emily Dattilo at emily.dattilo@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

December 04, 2024 14:07 ET (19:07 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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